A B2B communication refers to any communications between businesses as opposed to between businesses and clients or clients and clients. B2B communications can take place in any form with telecommunications providers maintaining systems that transfer data, sound, text, voice, and video. This telecommunication platform is typically used by marketers to boost the company’s presence within the industry and ascertain networking opportunities. A B2B telecommunication platform offers a robust view where the data and statistics related to financial information, cases, and orders is offered to customers. Thus, this enables easy management of most complex hierarchies that represent structure of an organization. Moreover, it provide access to a detailed reporting and set-up a real-time control over service usage.
The global B2B telecommunication market was valued at US$ 37,668.7 Mn in 2018 and is expected to grow at a CAGR of 14.0% during the forecasted period (2019-2027).
Market Dynamics- Driver
Key players in the market are focused on offering services such as cloud and internet to enterprises, in order to facilitate growing demand for said services for business applications. For instance, in June 2019, Poly launched ‘Polycom Studio’, which is a business-class video conferencing solution, which is compatible with Google Meet, Microsoft Teams, Zoom, and more. Moreover, advent of high-speed broadband services offered by telecommunication providers has led to early adoption of technology-based solutions such as online banking, M-commerce, and more by companies. Thus, these factors are expected to drive the global B2B telecommunication market growth during the forecast period.
Business owners in the industry are increasingly adopting social media, mobile, analytics, and cloud or also referred as SMAC technology, in order to expand the business scope. Moreover, business owners are focused on implementing cloud-based business applications, mobile payments, mobile-based commerce, and NFC for financial transaction, which in turn, is expected to propel the market growth in the near future.
North America region dominated the global B2B telecommunication market in 2018, accounting for 29.3% share in terms of value, followed by Europe and Asia Pacific, respectively
Source: Coherent Market Insights
The business owners in various industries are hesitant towards adopting advanced technological solutions, owing to growing security issues. Growing risk of security breaches coupled with cyber theft are expected to restrain growth of the market. Moreover, these services are managed by third-party services for day-to-day operations, which has increased incidence of data theft, loss of data, and information leak. Although several telecommunication providers are offering advanced security services, in order to cater increasing demand for security solutions, there still exists risk of data theft.
Although B2B telecommunication providers have incorporated IT services, lack of automation and integrated support system are unable to offer the service for longer period. Moreover, service providers are unable to provide enhanced IT services due to limited budget and complicated business structure. This, in turn, is expected to hinder the market growth over the forecast period.
Internet of Things or IoT is of the rapidly growing technology that has gained significant traction in the recent past. Major telecommunication providers in the market are offering IoT-based services to organizations, since it is cost-efficient and offer other benefit including machine-to-machine communication, wireless transactions, and more. Thus, growing adoption of IoT-based solutions is expected to offer excellent growth opportunities for market players in the near future.
As organizations are adopting latest technologies to enhance their businesses, it has encouraged telecommunication providers to incorporate IT applications into their service. Due to this, the burden of hardware and other complexities business have reduced significantly. Thus, rising demand to IT applications is expected to offer lucrative growth opportunities for market players in the near future.
Source: Coherent Market Insights
Business owners in various industries are facing major challenges related to stand-alone communication. This, in turn, has led to adoption of unified communication services. This includes fixed-mobile convergence and video conferencing that are extensively adopted by market players. Such services are offered by telecommunication companies, in order to reduce operational complexities. For instance, Telefonica S.A., a Spain-based telecommunication service provider implemented Telepresence, a solution offered for unified communication services for BBVA, in order to reduce travelling cost for its employees between Mexico and Spain by providing internet-based telecommunications.
Growing adoption of B2B telecommunication services by small- and medium-sized enterprises, owing to availability of internet-based services and cloud-based technology is expected to be a major trend in the market. These technologies are cost-efficient and can support daily operations and also enhance business applications. For instance, in 2016, Tata Teleservices limited, an Indian telecommunication provider, gained around 30% overall revenue by offering B2B services including cloud-based conferencing, social media integration, and other SMEs.
In Global B2B telecommunication market, by solution segment cloud solution sub-segment dominated the global B2B telecommunication market in 2018, accounting for 49.3% share in terms of value, followed by unified communication and collaboration sub-segment and VoIP sub-segment, respectively.
Source: Coherent Market Insights
Value Chain Analysis:
Information Technology Providers
Distributers & Channel Partners
End Users & OEM
Telecommunication Service Provider
Key companies operating in the global B2B telecommunication market are Telstra Corporation Limited, Verizon Communications, Inc., Telefonica, S.A., Deutsche Telekom AG, Sprint Corporation (SoftBank Group Corporation), AT&T Inc., Vodafone Group PLC, NTT Communications Corporation, and Orange S.A.
Business to business (B2B) communication refers to any communications between businesses and clients; business and business or clients and clients. In B2B telecommunication can be defined as communication done between businesses and clients in the form of text, audio, video, voice, or data. B2B telecommunications platform delivers a holistic prospective for stats, data, cases, and orders, in order to augment the company’s presence in the industry. The B2B telecommunication helps companies to manage service level agreements and offers real-time control over service usage.
Now a days, the companies has expanded their businesses across the globe. The companies has their various operating departments spread across various countries. The internal communication between these operating departments is very crucial for companies. Owing to this the need of b2b telecommunication has been increased drastically in recent years as it boosts internal operational collaboration, efficiencies, and processes by integrating and sharing data across departmental and/or geographic boundaries. It also helps in gaining the insights from the real-time data, which further help the organizations to create a custom message for every customer and communicate with them at a time when they are looking for relevant information. Moreover, the B2B telecommunication has helped companies to reduce their travel expense as they can use teleconferencing instead of face to face meetings.
Moreover, with the increasing adoption of IoT, the business owners in the industry are increasingly adopting social media, mobile, analytics, and cloud or also referred as SMAC technology, in order to expand the business scope which is expected to fuel the global B2B telecommunication market.
This report segments the global B2B telecommunication market on the basis of solution, end user, and vertical. On the basis of solution, the global B2B telecommunication market is segmented into unified communication and collaboration, VoIP, WAN, cloud services and M2M communication. On the basis of end used, the market is segmented into small & medium enterprise (SMEs) and large enterprise. On the basis of vertical, the market is segmented into BFSI, healthcare, media and entertainment, government, energy and utility, retail, transportation and logistics and others.
Key features of the study:
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